Investment objectives: AFIC aims to provide shareholders with attractive investment returns through access to a growing stream of fully franked dividends and enhancement of capital invested over the medium to long term.
Benchmark: S&P/ASX 200 Accumulation Index.
Size of portfolio: $7.2 billion at 31 March 2019.
Management cost: 0.14 per cent, no performance fees.
Investment style: Long-term, fundamental, bottom-up.
Suggested investment period: Five years to 10 years or longer.
Net asset backing: released every month with top 25 investments.
Listed on ASX and NZX: code AFI.
Diversified portfolio primarily of ASX-listed Australian equities.
Tax-effective income via fully franked dividends.
Consistent after tax paid investment returns achieved over the long term.
Professional management and an experienced Board, investment and management team.
Ease of investing, transparent ASX pricing, good liquidity in shares.
Shareholder meetings on a regular basis.
The market consolidated in March, the S&P/ASX 200 Accumulation Index adding 0.73% to finish the quarter up 10.89%.
Defensive orientated stocks and sectors performed strongly in March, likely benefitting from strength in bond markets (yields falling). In this setting, the REIT sector (up 6.2%), telecommunications (up 4.0%) and consumer staples (+3.9%) were positive contributors to the share market.
Energy stocks were largely weaker in March with the energy sector (down 4.1%) despite a rising US$ oil price. The financial sector (down 2.7%) was the only other sector to record a negative return, reversing some of February’s gains.
For more information visit our website: afi.com.au
|Company||Total Value $ Million||% of Portfolio|
|1||Commonwealth Bank of Australia*||567.5||8.2|
|3||Westpac Banking Corporation||402.9||5.8|
|6||National Australia Bank||291.0||4.2|
|9||Australia and New Zealand Banking Group||220.9||3.2|
|18||James Hardie Industries||110.0||1.6|
|21||Ramsay Health Care||91.1||1.3|
|23||Treasury Wine Estates||81.4||1.2|
* Indicates that options were outstanding against part of the holding.
** As a percentage of total portfolio (excludes cash).
This information has been prepared by Australian Foundation Investment Company Limited (AFIC) (ABN 56 004 147 120) and is provided by its subsidiary Australian Investment Company Services Limited, holder of Australian Financial Services Licence 303209 (Provider).
To the extent that this information includes any financial product advice, the advice is of a general nature only and does not take into account any individual’s objectives, financial situation or particular needs. Before making an investment decision an individual should assess whether it meets their own needs and consult an appropriately licensed financial adviser.
The information contained in these materials have been prepared in good faith. However, no warranty (express or implied) is made as to the accuracy, completeness or reliability of any statements, estimates or opinions or other information contained in these materials (any of which may change without notice) and to the maximum extent permitted by law, the Disclosers disclaim all liability and responsibility (including, without limitation, any liability arising from fault
or negligence on the part of any or all of the Disclosers) for any direct or indirect loss or damage which may be suffered by any recipient through relying on anything contained in or omitted from these materials.
A copy of the relevant Financial Services Guide can be found on AFIC’s website: www.afi.com.au